2nds World enters voluntary administration

Administrators seeking expressions of interest.

Riad Tayeh, Antony Resnick and Mark Robinson of de Vries Tayeh have been appointed as voluntary administrators of the 2nds World group of companies on 15 April 2019.

2nds World is Australia’s leading factory seconds appliances retailer. Headquartered in Cremorne, Sydney, 2nds World has five stores in New South Wales at Auburn, Caringbah, Castle Hill, Cremorne and Penrith. It also has a large online shop at 2ndsworld.com.au.

de Vries Tayeh Administrator, Mark Robinson, said: “2nds World has a long-running history, currently selling discounted appliances to retail customers and commercial clients. 2nds World is also a member of Australia’s largest appliance buying group, Narta.

“The Administrators are already in discussions with a number of interested parties and are seeking to execute an urgent sale process as a going concern. We encourage any other interested parties to contact us forthwith.

“2nds World will continue to trade for a limited period while the Administrators urgently seek expressions of interest to sell the business as a going concern.”

Interested parties should contact Chris Skepevski of de Vries Tayeh on 02 9633 3333 or email cskepevski@dvtgroup.com.au.

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